Tri Party Agreement CIDCO

Hello buddy I want to know that What is CIDCO triparty agreement? Can you please provide me the detail of this Agreement??

[Kiran Chandar]

As you want o know about the Tripartite Agreement CIDCO

So is the detail of the Tripartite Agreement CIDCO

Tripartite Agreement-

This is a type of agreement by which the villager transfers his rights, title and interest on the land to a third party, namely, the builder/developer/construction company.

This could be done for a variety of reasons including lack of funds,expertise etc.

Transfer charges are paid to CIDCO and CIDCO now admits the builder/developer/construction company in its records as the owner of the land.

Lease Agreement-

Since CIDCO does not sell any plots (it only gives plots on long term 60 yr lease),it signs a Lease agreement with the villager which specifies the exact terms of the lease.

It includes the time limit for constructing the structure, the fines and penalties imposed in case of any violations of the time schedule, transfer charges to be paid to CIDCO and approval of CIDCO incase any new title or interest is created in the property etc.